Assignment 1.5 Exercises Problem 2: Building a Balance Sheet 5 Points As of January 31st, 2020, Spooner Company owes its suppliers $1070, and owes its employees $1420 in future wages. The company has $8400 in cash on hand and is storing $5470 of inventory. Equipment worth $27,000, net of accumulated depreciation, is supporting the operation. The company also has an outstanding loan to its local bank of $15,000. Sales in 2019 was $432,000. Complete the full Balance Sheet for Spooner Company. What is the Owner's Equity for this firm? Use the Template Provided Below to Create Your Solution - Pay close attention to the formulas and formatting of the inputs. Input area: Accounts Payable ($) Wages Payable ($) Cash ($) Inventory ($) Net Fixed Assets ($) Bank Loan ($) Output area: Current Assets: Cash Inventory Total Current Assets Net Fixed Assets Spooner Company Balance Sheet January 31st, 2020 Current Liabilities: Accounts Payable Wages Payable Total Current Liabilities Long-Term Debt Owner's Equity Total Assets $ Total Liabilities and Equity